Rwanda makes US$196.3 million from mineral exports

Wednesday, 26 February 2014 08:51

Cassiterite is one of Rwanda's untapped minerals and contributed US$50.5mn in 2013 through exports. (Image source: Alchemist-HP/Wikimedia Commons)Rwanda's mineral exports have increased by 72 per cent from 2012, with coltan alone contributing to US$121.3mn worth of exports

Latest figures provided by the Rwandan government showed that the nation earned US$196.3mn in Q1 to Q3 of 2013, showing an increase of 72 per cent from 2012.

Singaporean research firm Global Reports also pointed to an increase in exports in 2013.

"Coltan went up by 161 per cent, wolfram by seven per cent and cassiterite rose by 13 per cent,” the firm said.

According to its report, Data Mining in Africa Country Investment Guide 2014, these minerals have also contributed to an increase in exports with wolfram bringing in US$24mn and cassiterite US$50.5mn. Coltan alone contributed US$121.3mn, reportedly benefitting from an increase in price per kilogramme, the company said.

Global Reports stated that there are plenty of untapped minerals in Rwanda. It is one of the top sub-Saharan nations with an abundant supply of minerals like cassiserite, columbite-tantalite (coltan) and wolfram, among others. If exported competently, these minerals can bring in more revenue, added the report.

Rwanda’s main minerals are predominantly mined and traded within the country.